Insurance behemoth Life Insurance Corporation of India (LIC) has raised its stake in Capri Global Capital by 2 per cent over the last few months at an investment of ₹257.37 crore.
Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares. This results into Life Insurance Corporation of India (LIC) increasing its stake from 7.052 per cent to 9.072 per cent of the paid-up capital of the company, the company said in its regulatory filing on Monday.
Capri Global caters to different segments like MSME, construction, finance, affordable housing and indirect retail lending segments.
The new shares were acquired by LIC between June 10, 2022 to October 28, 2022 at an average cost of ₹724.74 apiece.
As per regulatory norms, listed companies are required to disclose about change in shareholding of 2 per cent and above.
LIC said the share purchase was an investment function through an open market purchase. Capri Global’s market capitalisation stands at ₹13,014 crore.
Life Insurance Company of India or LIC has disclosed that it has increased its stake in Capri Global Capital Limited to more than 7% from 5.043% earlier through open market transactions in June.
The scrip of LIC closed at ₹604 on BSE, up 1.86 per cent. Capri Global settled 1.05 per cent higher at ₹750.50.
